The electrical equipment and electronics output in Sweden, as of 2023, stood at 6.88 billion Euros. From 2013 to 2023, the industry experienced both growth and contractions, with notable declines in 2014, 2016, and a marked recovery in 2021. The year-on-year variations illustrate a mix of positive and negative performance, with an average Compound Annual Growth Rate (CAGR) of 0.53% over the last five years.
Given the forecast from 2024 onwards, the industry is poised for modest yet steady growth with a forecasted 5-year CAGR of 0.59% and a total growth rate of 2.97% by 2028. Future trends to watch out for include advancements in renewable energy technologies, increasing investments in smart grids, and the integration of Internet of Things (IoT) in manufacturing processes, which are expected to drive industry growth.
